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ANOTHER OBAMA SCANDAL IN THE MAKING
Powerline ^ | November 16,2011 | JOHN HINDERAKER

Posted on 11/17/2011 6:31:03 AM PST by Hojczyk

It has to do with a “green energy” company called BrightSource Energy Inc., which develops solar energy products (or intends to someday, anyway). In 2010, BrightSource was in deep trouble. It was $1.8 billion in debt and was losing money hand over fist–a $71.6 million loss on a mere $13.5 million in revenue. A company destined to go down the drain, one would think. But no! The Obama administration bailed out BrightSource to the tune of a cool $1.4 billion in loan guarantees.

How could that possibly have happened? Well, start with the fact that the principal investor in BrightSource is VantagePoint Partners. Robert F. Kennedy, Jr. is a Venture Partner in VantagePoint. But BrightSource had an even more valuable contact than that:

Sanjay Wagle…was one of the principals in Kennedy’s firm who raised money for Barack Obama’s 2008 presidential campaign. When Obama won the White House, Wagle was installed at the Department of Energy (DOE), advising on energy grants.

Well, that was convenient! So BrightSource got its $1.4 billion. BrightSource isn’t out of business yet, but how promising was the Obama administration’s investment? Check out the registration statement for the company’s IPO. This is from the discussion of risk factors:

This offering involves a high degree of risk. … We have generated substantial net losses and negative operating cash flows since our inception and expect to continue to do so for the foreseeable future as part of the development and construction of solar thermal energy projects using our systems.

(Excerpt) Read more at powerlineblog.com ...


TOPICS: Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: bhofascism; brightsource; brightsourceenergy; caenergy; corruption; democrats; fraud; obama; rfk; rfkjr; sanjaywagle; wagle

1 posted on 11/17/2011 6:31:03 AM PST by Hojczyk
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To: Hojczyk

$1,400,000,000 billion in loan (tax payer) guarantees?


2 posted on 11/17/2011 6:36:00 AM PST by Java4Jay (The evils of government are directly proportional to the tolerance of the people.)
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To: Hojczyk

Being a Kennedy means never having to pay the price for any of your f***-ups.


3 posted on 11/17/2011 7:06:53 AM PST by Buckeye McFrog
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To: Hojczyk

According to their report, the stimulus bill of 2009 included $80 billion in funds for these kinds of projects. $80 billion of taxpayer money for Obama to reward his friends and win new ones as part of his re-election campaign, which started the day after the 2008 election.


4 posted on 11/17/2011 7:07:27 AM PST by Verginius Rufus
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To: Hojczyk

Why bother even reading any of this anymore? The gutless GOP will ignore it or gloss it over. They will claim that they are helpless and will not make themselves look “mean spirited” by actually going after the criminal democrat party but will instead pass it off in the spirit of bipartisanship. If the democrats started arresting and “disappearing” conservative opponents our worthless representatives would just wonder out loud about what crimes were committed to bring this on. We have entered the era of taxation with no representation and no protections from our government or the now trashed Constitution. Worthless domestic enemies one and all.


5 posted on 11/17/2011 7:10:05 AM PST by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: RJS1950

Bfl. FOGOP!!!


6 posted on 11/17/2011 7:13:54 AM PST by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: Hojczyk

How can a company with $13 million in revenue borrow 1.4 Billion—even from the government, and lose it to boot? They should be too small to generate that kind of loss, even if the business model is grossly unprofitable.


7 posted on 11/17/2011 7:16:18 AM PST by Pearls Before Swine
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To: RJS1950

Exactly. “Another” scandal? I’m waiting for the media to actually cover any of them.

If Solyndra, Fast and Furious, and power-grabbing Executive Orders had happened under Bush like they are going on with “the One”, Bush would have been impeached by now.


8 posted on 11/17/2011 7:23:09 AM PST by woweeitsme
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To: Pearls Before Swine
How can a company with $13 million in revenue borrow 1.4 Billion—even from the government, and lose it to boot? They should be too small to generate that kind of loss, even if the business model is grossly unprofitable.

PRECISELY.

9 posted on 11/17/2011 7:31:17 AM PST by Hemingway's Ghost (Spirit of '75)
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To: Hojczyk

This appears to be the most Crooked Administration in the History of America ???????


10 posted on 11/17/2011 7:39:28 AM PST by chatham
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To: Hojczyk

According to Fox News this morning there appears to have been an unnamed green czar who was working to speed up green loans - I wonder if Sanjay Wagle is the guy... Hum???


11 posted on 11/17/2011 7:40:28 AM PST by OrioleFan
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To: Hojczyk

No problem all the alleged Romney voters could care less..
Thats WHY?... they are Romney voters...


12 posted on 11/17/2011 7:58:12 AM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: RJS1950
Why bother even reading any of this anymore? The gutless GOP will ignore it or gloss it over. They will claim that they are helpless and will not make themselves look “mean spirited” by actually going after the criminal democrat party but will instead pass it off in the spirit of bipartisanship.

What you said. Hell, they ought to make King Zero dictator for life and get it over with.

13 posted on 11/17/2011 8:00:52 AM PST by Marathoner (Occupy Wall Street = Useful Idiots on Parade)
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To: hosepipe
No problem all the alleged Romney voters could care less..
Thats WHY?... they are Romney voters...

silly person....
that's why they're (prospective) Rombot voter(s)
....they're clinically brain-dead...drones
(to see your future, ruled by the Marxist American
Nomeklatura, administered by torpid apparatchik.)
Look @ the Detroit / Chicago axis (Liberal) Paradise...
Just look @ it , just don't go there.


14 posted on 11/17/2011 8:28:55 AM PST by skinkinthegrass (I can take tomorrow, spend it all today. Who can take your income, tax it all away. Obama Man can. :)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


15 posted on 11/17/2011 8:45:58 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: Java4Jay

And the OCCUPY protesters know they are protesting the fat cats seated by Obama.How could they as they have been paid with God knows who’s money to say what mister SOB corrupt organizer told them too.

How about POLITICO work on a story of the Obama’s law practices.Can they practice law?Was Obama a professor?If so where are the college records?


16 posted on 11/17/2011 8:56:55 AM PST by Dubya-M-DeesWent2SyriaStupid!
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To: skinkinthegrass

Romney voters are mostly ex-democrats..
and other silly women...


17 posted on 11/17/2011 8:58:34 AM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole...)
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To: Hojczyk

Time to send all of DC packing at the first opportunity, IMO.


18 posted on 11/17/2011 9:51:59 AM PST by ExTexasRedhead
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To: Java4Jay
...$1,400,000,000 billion

...That looks like this, $1,400,000,000,000,000,000. 1.4 quintillion. (-;)

19 posted on 11/17/2011 10:53:40 AM PST by gargoyle (...it becomes necessary for one people to dissolve the political bands which have connected them...)
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To: Hojczyk

What’s another obama scandal? He gets a pass on everything.


20 posted on 11/17/2011 10:54:39 AM PST by jersey117
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To: Pearls Before Swine

Bingo! DNC slush fund anyone? =.=


21 posted on 11/17/2011 11:07:32 AM PST by cranked
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To: gargoyle

Plus interest


22 posted on 11/17/2011 12:21:35 PM PST by Java4Jay (The evils of government are directly proportional to the tolerance of the people.)
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To: Java4Jay

...HAAA, How could I forget that!


23 posted on 11/17/2011 2:13:37 PM PST by gargoyle (...it becomes necessary for one people to dissolve the political bands which have connected them...)
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To: Hojczyk

Do you remember w-a-a-a-a-a-y back in the dark ages, when you were in high school, how the text books had material in them about Boss Tweed, the Tea Pot Dome Scandle, and Honey Fitz?

The bilthy fastards currently in and around the White Hut are providing the material for a future generations text books.

(No, I don’t think they will get away with what they are doing. Truth will always find the daylight, given time.)


24 posted on 11/17/2011 3:42:17 PM PST by RobinOfKingston (The instinct toward liberalism is located in the part of the brain called the rectal lobe.)
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To: Java4Jay

Straight into Dem coffers to buy 2012


25 posted on 11/17/2011 4:29:51 PM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: Hojczyk

This guy is black. That means he’s teflon. Nothing will stick.


26 posted on 11/17/2011 8:27:54 PM PST by Terry Mross (I'll only vote for a second party)
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To: OrioleFan

Van Jones was the original Green Energy Czar.


27 posted on 11/17/2011 10:31:32 PM PST by ImpBill ("America, where are you now?" - Little "r" republican!)
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